🔗 Share this article Toto Wolff Preparing to Sell Stake Pricing Mercedes F1 at £4.6bn Toto Wolff has led Mercedes to historic achievements in Formula 1 Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit. The deal values the Mercedes team at £4.6 billion – a record for an F1 team – following McLaren were valued at £3.5 billion in a change of corporate structure last September. The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a stake in the region of five percent. Wolff, aged 53 would stay on as team principal and CEO should the deal proceed. Ownership Structure The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the enterprise. An official representative stated: "We will be making no official statement on this. The governance of Mercedes F1 will remain unchanged, and all three partners are dedicated to the ongoing success of the brand in F1." Financial Increase This arrangement signifies a significant increase in value of the Mercedes team after Ineos bought its share for £208 million in 2022. This surge demonstrates the growth in valuations of Formula 1 outfits recently due to the growing popularity of the sport around the world. This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630 million (£458 million) at the box office. The film represents the actor's top-grossing film and the highest-earning sports film ever released. Current Performance Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three races remaining this season. Mercedes' primary racer British driver George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen. Mercedes secured a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.